• Aug 23, 2024
  • Trade ideas

US100: Critical Support Zone

US100, H4

US100H4.png

In the H4 time frame, US100 is slightly corrected after an upward momentum, and tests the 19500 support, aligned with the golden Fibonacci ratio. The 50-MA crosses the 100- and 200-MA, potentially indicating a bullish sentiment, however, the Momentum oscillator crosses the 100-line downwards.

  • If the price rebounds off the 19500, US100 will rise to 20500 resistance;
  • Breaching below the golden Fibonacci will drop the price to 18700 support.
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Author: Timur Yurdagyul